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Preferred Units | 3 Months Ended
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Dec. 31, 2021
Temporary Equity Disclosure [Abstract] |
Preferred Units | Preferred Units As of August 13, 2020, REP LLC entered into the Fourth Amended and Restated Limited Liability Company Agreement (the "Fourth LLC Agreement") which declared the mandatory redemption date for all Series A Preferred Units in cash to one year following the expiration of the credit agreement (as may be further amended, restated, supplemented, modified or replaced from time to time) which at that time was set to mature on September 28, 2023. In accordance with ASC 480 Distinguishing Liabilities From Equity, equity securities are required to be classified outside of permanent equity in temporary equity if they are redeemable or may become redeemable for cash or other assets. As the Company was not considered to have sole control over the contractually mandated redemption during the year ended September 30, 2020 based on the set redemption in 2024, the Series A Preferred Units were classified as mezzanine equity until they were converted into common units, as discussed below. Immediately prior to the closing of the Merger on February 26, 2021 and in accordance with the Merger Agreement, REP LLC converted each issued and outstanding Series A Preferred Unit into one common unit and paid the holders of REP LLC Series A Preferred Units a cash payment equal to the amount of any unpaid dividends accruing between October 1, 2020 and February 26, 2021 in accordance with the Fourth LLC Agreement. The Company converted 511,695 Series A Preferred Units with a value of $61.2 million to common units in accordance with the Fourth LLC Agreement and Merger Agreement. Additionally, the cash payment of any unpaid dividends accrued between October 1, 2020 and February 26, 2021 was $1.5 million on 511,695 Series A Preferred Units. The tables below summarize the preferred unit activity during the year ended September 30, 2021:
| Units |  | Amount
|  |  | (In thousands)
Balance, September 30, 2020 | 504,168 |  |  | $ | 60,292 |
Dividends paid in kind | 7,527 |  |  | 904 |
Units converted to common units | (511,695) |  |  | (61,196) |
Balance, September 30, 2021 | — |  |  | $ | — |
After the closing of the Merger, the Company's authorized capital stock includes 25 million shares of preferred stock with a par value of $0.0001 per share, of which no shares were issued and outstanding as of December 31, 2021 or September 30, 2021.

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